Tag Archives: Emmanuel Macron

French racing secures ‘conditional approval’ on restart programme

French horseracing will be allowed to return this May, operating its schedule and track meetings on a ‘conditional basis’ granted by France’s Ministry of Agriculture. Last week, Edouard de Rothschild – President of France Galop – and LeTrot counterpart Jean-Pierre Barjon presented French racing’s action plan to resume fixtures on 11 May behind closed doors. Underlining that races would be held under …

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France Galop eyes May return for French Racing

France Galop, the governing body of French horseracing, is awaiting government approval to restart its racing schedule behind closed doors. Updating the media, France Galop seeks to resume its track meetings in May following the enforced suspension of all French professional sports on 17 March, complying with the government’s national lockdown orders. This weekend, President Emmanuel Macron confirmed that France’s …

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FDJ secures ‘favourable’ €380m loan to repay French state duties

Française des Jeux (FDJ) has secured access to a €380 million syndicated loan, in which funds will be utilised to repay the French state’s agreed 25-year national lottery operating concession. Prior to becoming a publicly listed enterprise by floating on the Paris Euronext Exchange last November, the French government had granted FDJ a 25-year extension on its existing national lottery …

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En Marche maintains FDJ sale agenda but strategy remains unclear

Addressing an audience of French business stakeholders, Bruno Le Maire – France’s Finance Minister – maintained the En Marche government’s schedule of selling state-owned lottery and betting operator Française des Jeux (FDJ) in 2019. Le Marie hinted at an event hosted by MEDEF, France’s enterprise association, that an FDJ sale could be completed by November of this year as En Marche …

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Paddy Power shortens odds on BoJo scrapping backstop

As Boris Johnson’s trip over to the continent has continued to attract attention from UK media, Paddy Power has shortened its odds on whether BoJo can secure a deal with Angela Merkel where a backstop doesn’t exist, despite her outlining a hard line 30-day time limit. The Irish bookmaker has been offering odds of 8/1 that BoJo can agree a deal …

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En Marche appoints banking collective to table an FDJ IPO

The French government has accelerated its plans to privatise state-owned lottery and sports betting operator Francaise des Jeux (FDJ), appointing a collective of eight investment banks to work on the sale of the asset. This week, the APE, the agency overseeing the management French state-owned firms, confirmed that BNP Paribas would be joined by Citigroup, Goldman Sachs, Credit Agricole, HSBC, …

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France Galop joins efforts to raise funds for Notre-Dame

French racing body France Galop has joined in efforts to raise funds for the reconstruction of the Notre-Dame cathedral after a fire destroyed parts of the building on Monday evening. The governing body’s president, Edoard de Rothschild, has announced that the Prix du President de la Republique will be renamed for this weekend’s meeting at Auteuil, with all proceeds going …

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En Marche faces rocky road in pursuit of FDJ sale

France’s Senate has revealed that it will review the proposed sale of state-owned assets Française des Jeux (FDJ) and Aéroports de Paris (ADP) this April. The decision follows the approved passage of the ‘PACTE Loi’ mandate, which seeks to implement the En Marche government’s headline ‘Enterprise and Innovation’ programme, which will move to privatise a number of French public firms and …

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En Marche to sell FDJ on the condition that France revamps gambling regulatory framework

As anticipated, Emmanuel Macron’s En Marche government has confirmed that it will privatise French state-owned gambling and lottery operator Francaise des Jeux (FDJ). However, FDJ’s sale comes with several strings attached, as the French Assembly demands that En Marche moves to restructure France’s national gambling regulatory framework. As a key initiative of Macron’s ‘France enterprise and innovation program’, En Marche will …

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En Marche plans adieu for France FDJ

French news sources report that Emmanuel Macron’s En Marche government is planning to sell a 50% stake in national gambling operator Francaise des Jeux (FDJ). The sale forms part of Macron’s modernisation of French enterprise, where En Marche will seek to privatise a number of state-owned assets. For a number of years, French policymakers have mooted the sale of FDJ, …

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